By The Weekly Edge desk ·
Underdog has asked a federal court to prevent Tennessee from enforcing wagering laws against its event-contract exchange, CasinoBeats reported. The report describes the exchange as regulated by the CFTC.
The injunction request contests Tennessee’s application of wagering laws to Underdog’s event-contract exchange.
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Operators face unresolved gaming definitions as the CFTC deliberates and Nevada and New Jersey assert authority over sports-outcome contracts.
The court-linked sports shutdown limits Kalshi’s market offering in Washington State.
The lawsuit contests whether Wisconsin’s gambling laws apply to Novig’s sports contracts or federal commodities jurisdiction takes precedence.
The suit contests state authority over Underdog’s prediction market and follows a ruling against Kalshi.
Parlay-equivalent combos are driving growth in Novig’s and Underdog’s prediction market businesses.
Novig and Underdog are expanding multi-leg offerings as combinations become an increasing source of sports prediction market activity.